USD/JPY may rise 38 - 68 pips

Pivot

149.15

Our preference

Long positions above 149.15 with targets at 150.00 & 150.30 in extension.

Alternative scenario

Below 149.15 look for further downside with 148.85 & 148.60 as targets.

Comment

A support base at 149.15 has formed and has allowed for a temporary stabilisation.

Supports and resistances

150.50

150.30

150.00

149.62 Last

149.15

148.85

148.60

Number of asterisks represents the strength of support and resistance levels.